Lifetime Benefit Insurance: A Long-Term Safety Net for Financial Security
Lifetime benefit insurance, also known as guaranteed lifetime income insurance, stands as a financial cornerstone for individuals seeking long-term financial security and peace of mind. Simply put, it’s an insurance policy designed to provide a steady stream of income for the insured for their entire life, regardless of their age, health, or market conditions. Consider the example of Sarah, a 65-year-old retiree who purchased a lifetime benefit insurance policy. Now, she receives a monthly income that supplements her pension and Social Security benefits, ensuring a comfortable and financially independent retirement.